Focus Graphite (CVE:FMS) Trading Up 9.6% – Here’s What Happened

Focus Graphite Inc. (CVE:FMS)’s stock price shot up 9.6% during mid-day trading on Thursday . The stock traded as high as C$0.40 and last traded at C$0.40. 293,373 shares traded hands during mid-day trading, an increase of 47% from the average session volume of 199,050 shares. The stock had previously closed at C$0.37.

Wall Street Analysts Forecast Growth

Separately, Fundamental Research set a C$1.27 target price on shares of Focus Graphite and gave the company a “buy” rating in a research note on Tuesday, March 24th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Focus Graphite presently has an average rating of “Buy” and an average price target of C$1.27.

Focus Graphite Price Performance

The company’s 50-day simple moving average is C$0.37 and its 200-day simple moving average is C$0.42. The stock has a market capitalization of C$40.06 million, a price-to-earnings ratio of -12.33 and a beta of 0.35.

About Focus Graphite

Focus Graphite Inc, an exploration stage company, acquires, explores, and develops mineral properties in Quebec, Canada. The company explores for graphite, iron, copper, rare-earth elements, and gold deposits. Its flagship project is the Lac Knife property in which it holds 100% interests that consists of 62 claims covering an area of 3,248.18 hectares located in the Côte Nord region of Québec. The company was formerly known as Focus Metals Inc and changed its name to Focus Graphite Inc in May 2012.